Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Pro-gov’t daily sets up hotline for informing on Gülen followers in EU

The pro-government Sabah daily’s Europe edition, Sabah Avrupa, has set up a telephone line for its readers to report followers of the faith-based Gülen movement, against which Turkish authorities launched a witch hunt over its alleged involvement in a failed coup last summer.

Turkish purges leave armed forces weak, dismissed officer warns

NATO’s supreme allied commander in Europe, General Curtis Scaparrotti, said in December that he never had any reason to suspect that Turkish officers in his teams would be involved in a coup attempt. In their absence, and without their expertise, the capacity of his staff had been “degraded,” he told the Financial Times and Deutsche Welle.

Journalists and Writers Foundation (GYV) bridging Eastern, Western worlds

The GYV was founded in 1994, and the mission and work of the foundation is inspired by its Honorary President Fethullah Gülen. Gülen, known for his teachings of hizmet (service), tolerance and dialogue, has attracted a large number of supporters in Turkey and Central Asia and increasingly in other parts of the world.

Turkish gov’t detains more than 70 women over their alleged financial support for jailed Gülen followers

The Turkish government detained more than 70 women on Wednesday evening in five provinces across Turkey as part of a investigation targeting alleged members of the Gülen movement. It was claimed that the detained women have been helping financially to the relatives of those who were jailed or escaped from the persecution of the Turkish government.

Launch of Fethullah Gulen Chair in Islamic Studies and Intercultural Dialogue at Deakin University

The Melbourne based Deakin University launched its inaugural Chair, named after Fethullah Gulen, in Islamic Studies and Intercultural Dialogue with a ceremony held on Tuesday 22 November at its Melbourne Corporate Centre. Professor Jane Den Hollander, President and Vice-Chancellor of Deakin University officially launched the Chair.

A Chat with Vonya Womack, a Human Rights Activist and Expert on Turkey and Its [Gulen Follower] Refugees

Following a recent coup attempt, more than 100,000 people were arrested and dismissed from their jobs in the Republic of Turkey. Turkey is also the world’s largest jailer of journalists; 300+ are now behind bars. Our guest is an expert on these and related matters — Vonya Womack

Latest News

Fethullah Gulen – man of education, peace and dialogue – passes away

Fethullah Gülen’s Condolence Message for South African Human Rights Defender Archbishop Desmond Tutu

Hizmet Movement Declares Core Values with Unified Voice

Ankara systematically tortures supporters of Gülen movement, Kurds, Turkey Tribunal rapporteurs say

Erdogan possessed by Pharaoh, Herod, Hitler spirits?

Devious Use of International Organizations to Persecute Dissidents Abroad: The Erdogan Case

A “Controlled Coup”: Erdogan’s Contribution to the Autocrats’ Playbook

Why is Turkey’s Erdogan persecuting the Gulen movement?

Purge-victim man sent back to prison over Gulen links despite stage 4 cancer diagnosis

In Case You Missed It

Erdogan: The Sultan of an illusionary Ottoman Empire

Fethullah Gülen calls on Muslims in the US to pray against Sandy

Fethullah Gülen’s Message of Condolences for the Beirut Explosion

TURKEY: Fethullah Gulen profile

Turkish families cope with aftermath of failed coup

Cambodian PM congratulates students from Turkish high school on GENIUS Olympiad success

14th Int’l Festival of Language and Culture kicks off in Philippines

Copyright 2025 Hizmet News